E-commerce giant eBay announced that it has acquired UK-based NFT marketplace KnownOrigin for an undisclosed sum in a bid to further its efforts in the digital collectible space.
eBay Buys KnownOrigin
NFT marketplace KnownOrigin has been purchased by eBay for an undisclosed amount. The terms of the deal reportedly include the company’s intellectual property and its entire team.
Jamie Iannone, CEO of eBay said that the company looks forward to welcoming the innovators behind KnownOrigin as they join the eBay community.
David Moore, the co-founder of KnownOrigin, cited that this is the start of a new chapter in the KnownOrigin. He noted that ‘this partnership will help us attract a new wave of NFT creators and collectors.’
eBay Continues Its Push Into NFTs
The acquisition comes a month after eBay launched its first collection of NFTs in partnership with web3 platform OneOf. The company’s sports-themed “Genesis” NFT Collection featured 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years. The platform also allowed users to buy and sell NFTs back in May 2021.
Founded in 2018, KnownOrigin is currently the 12th largest NFT marketplace and has generated $7.8 million in sales since its launch, according to data from DappRadar. The NFT platform has also partnered with leading companies such as Adidas, Netflix, and Adobe.